Hong Kong stocks extend gains on China’s policy easing before economic data and corporate earnings reports

Source: scmp.com scmp.com

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Hong Kong stocks extended gains from China’s move to unleash more than 1 trillion yuan (US$155 billion) into the system to ease a liquidity crunch and support the nation’s economic recovery, while US equities reached record highs. The Hang Seng Index climbed 1.4 per cent to 27,900.18 in early Tuesday morning trading, adding to a 0.6 per cent advance on Monday after the People’s Bank of China cut the reserve requirement ratio (RRR) for banks by 50 basis points. The Shanghai Composite Index added 0.4 per cent. Sunny Optical, Geely Automobile and Longfor Group topped gainers on the Hang Seng...